6 ms·

It's going to get interesting when someone is able to construct a smart contract that is guaranteed to release the decryption key once enough money has been pai

It's going to get interesting when someone is able to construct a smart contract that is guaranteed to release the decryption key once enough money has been paid in.

DangitBobby 5y ago
What guarantees that the released key is actually the decryption key?
- aaron695 5y ago
  This part is solvable. They encrypt the data using 100,000 keys in 100,000 parts. You pay 1/100,000 the ransom and pick a key. You test. You get a random 1/100,000 of your data back. Repeat. There would be better ways I'm sure.
dandanua 5y ago
That's meaningless, you can just simulate the execution of a contract locally and get the key without spending anything. The power of smart contracts is very limited. The hype around them is based on a lot of lie, from the people that are not very different from those criminal hackers.
- Kbelicius 5y ago
  > The power of smart contracts is very limited. The hype around them is based on a lot of lie, from the people that are not very different from those criminal hackers. Can you recommend any further readin on this?
  - dandanua 5y ago
    In essence, a smart contract is just a server script that controls your wallet. It's public, i.e. the code is visible to everyone and you can't change it after publishing to the blockchain. The execution of this script also has some memory state on the blockchain, which is also public and controlled only by the script. That's all. Yes, you can use it to write crypto-kitties or some fair casinos (although it's very hard, since you have to implement fair unpredictable randomness). You can use your imagination to write some other interesting stuff. But you can't rebuild the entire financial system based on that. Here I commented about some specific problems https://news.ycombinator.com/item?id=27651377 https://news.ycombinator.com/item?id=27651377

6 ms·

It's going to get interesting when someone is able to construct a smart contract that is guaranteed to release the decryption key once enough money has been pai

by SheinhardtWigCo 5y ago

It's going to get interesting when someone is able to construct a smart contract that is guaranteed to release the decryption key once enough money has been paid in.

DangitBobby 5y ago
What guarantees that the released key is actually the decryption key?
- aaron695 5y ago
  This part is solvable. They encrypt the data using 100,000 keys in 100,000 parts. You pay 1/100,000 the ransom and pick a key. You test. You get a random 1/100,000 of your data back. Repeat. There would be better ways I'm sure.
dandanua 5y ago
That's meaningless, you can just simulate the execution of a contract locally and get the key without spending anything. The power of smart contracts is very limited. The hype around them is based on a lot of lie, from the people that are not very different from those criminal hackers.
- Kbelicius 5y ago
  > The power of smart contracts is very limited. The hype around them is based on a lot of lie, from the people that are not very different from those criminal hackers. Can you recommend any further readin on this?
  - dandanua 5y ago
    In essence, a smart contract is just a server script that controls your wallet. It's public, i.e. the code is visible to everyone and you can't change it after publishing to the blockchain. The execution of this script also has some memory state on the blockchain, which is also public and controlled only by the script. That's all. Yes, you can use it to write crypto-kitties or some fair casinos (although it's very hard, since you have to implement fair unpredictable randomness). You can use your imagination to write some other interesting stuff. But you can't rebuild the entire financial system based on that. Here I commented about some specific problems https://news.ycombinator.com/item?id=27651377 https://news.ycombinator.com/item?id=27651377